PEER COMPANIES

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PEER COMPANIES

NEW DELHI: Strong earnings by Reliance Industries and Hindustan Unilever, and hopes of ease in US-China trade tensions, may push domestic indices higher. Wipro Q3 earnings will be keenly eyed.

Let's check out what all might matter to Dalal Street on Friday:
Singapore trading sets stage for positive start Nifty futures on the Singapore Exchange were trading 54 points, or 0.49 per cent, higher at 10,974, indicating a positive start for the Nifty50.
Nifty forms ‘Hanging Man’ patternThe Nifty50 on Thursday reclaimed the 10,900 mark and formed a small bullish candle on the daily chart, which resembled a ‘Hanging Man’ pattern. The index has failed to clear its immediate resistance of 10,930. A decisive breakout above this level may signal further upside.

Asian stocks gain on ease in US-China tensionAsian stocks gained early on Friday, as hopes for a thaw in the U.S.-China trade conflict fed investor appetites for risk assets. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.25 percent. The index has gained nearly 1 per cent this week. Australian stocks rose 0.6 percent, as did South Korea's KOSPI while Japan's Nikkei gained 0.7 per cent.
Brent may hit $62.5 level, suggests chartsBrent oil still targets its January 11 high of $62.49 per barrel, due to a continuation of the uptrend from the December 26, 2018 low of $49.93. The trend is driven by wave C from $52.51. Five smaller waves make up this wave, Reuters reported.
US stocks end higherUS stocks advanced on Thursday as a published report that the United States was considering lifting tariffs on Chinese imports lifted investor sentiment. The Dow Jones Industrial Average index rose 127.84 points, or 0.53 per cent, to 24,335, the S&P500 index gained 16.03 points, or 0.61 per cent, to 2,632.13 and the Nasdaq Composite index added 39.75 points, or 0.56 percent, to 7,074.44.

RIL first co to hit $1 bn quarterly profitStrong growth in petrochemicals, telecom and retail helped Reliance Industries become the first Indian company to report a quarterly net profit higher than ₹10,000 crore, as robust performance of consumer-facing businesses more than made up for weaker refining margins and contracting oil & gas production.

Naresh Goyal proposes new flight planJet Airways promoter Naresh Goyal has countered partner Etihad Airways’ proposal to increase stake in the airline with an offer to invest Rs 700 crore. He also proposed to pledge his entire shareholding with lenders while seeking to maintain at least a 25 per cent stake, resisting pressure to reduce his holding and step aside.

Aurobindo acquires 7 oncology drugsAurobindo Pharma on Thursday said it has acquired seven marketed oncology injectable products from Spectrum Pharmaceuticals for about $300 million, which includes an upfront cash payment of up to $160 million and up to $140 million in milestones.

Adani, BASF to set up Rs 14,000 cr plant Global chemicals giant BASF and India’s Adani Group have signed a deal to set up a Rs 14,000-crore petrochemicals plant in Mundra. Powered by renewable energy, it will produce chemicals that are now imported. “This would be BASF’s largest investment in India to date,” the two companies said in a joint statement after signing a memorandum of understanding before the Vibrant Gujarat summit.

Kotak Bank’s stake dilution case deferredThe Bombay High Court on Thursday has adjourned the hearing in the writ petition filed by Kotak Mahindra Bank against the Reserve Bank of India to March 12 after RBI’s counsel Venkatesh Dhond asked for more time to file their affidavit response in reply to the bank’s writ petition.